KARASU CONSULT
ActiveSummary
KARASU CONSULT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €325k and a net result of €99k. Equity is growing by ~22.1% per year across the filed fiscal years. Its solvency ranks better than 92% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 15.24 against 17.33 in 2024; short-term debt: 6.5% and cash: 70.8% of total assets), and 6.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
93.4%
Return on assets
28.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-07-2026, 12 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
12 d early
2024
8 d early
2023
16 d early
2022
28 d late
2021
58 d late
2020
1 d early
2019
60 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€325k▼ 32.3%
2024 · €480k
2019: €92klowest in 7 years
2020: €182k▲ +98.7% vs 2019
2021: €262k▲ +43.9% vs 2020
2022: €326k▲ +24.5% vs 2021
2023: €379k▲ +16.1% vs 2022
2024: €480k▲ +26.8% vs 2023highest in 7 years
2025: €325k▼ -32.3% vs 2024
2019 → 2025
Total assets
€348k▼ 31.7%
2024 · €509k
2019: €134klowest in 7 years
2020: €272k▲ +103% vs 2019
2021: €347k▲ +27.7% vs 2020
2022: €346k▼ -0.2% vs 2021
2023: €390k▲ +12.7% vs 2022
2024: €509k▲ +30.7% vs 2023highest in 7 years
2025: €348k▼ -31.7% vs 2024
2019 → 2025
Net result
€99k▼ 2.5%
2024 · €101k
2019: €85k
2020: €99k▲ +16.0% vs 2019
2021: €80k▼ -19.4% vs 2020
2022: €64k▼ -19.7% vs 2021
2023: €52k▼ -18.3% vs 2022lowest in 7 years
2024: €101k▲ +93.6% vs 2023highest in 7 years
2025: €99k▼ -2.5% vs 2024
2019 → 2025
Working capital
€323k▼ 32.3%
2024 · €477k
2019: €88klowest in 7 years
2020: €176k▲ +101% vs 2019
2021: €257k▲ +45.9% vs 2020
2022: €319k▲ +23.9% vs 2021
2023: €368k▲ +15.6% vs 2022
2024: €477k▲ +29.5% vs 2023highest in 7 years
2025: €323k▼ -32.3% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€262k-€326k▲ 24.5%€379k▲ 16.1%€480k▲ 26.8%€325k▼ 32.3%
2021: €262klowest in 5 years
2022: €326k▲ +24.5% vs 2021
2023: €379k▲ +16.1% vs 2022
2024: €480k▲ +26.8% vs 2023highest in 5 years
2025: €325k▼ -32.3% vs 2024
Operating result€112k-€92k▼ 18.2%€77k▼ 16.4%€130k▲ 68.7%€132k▲ 1.6%
2021: €112k
2022: €92k▼ -18.2% vs 2021
2023: €77k▼ -16.4% vs 2022lowest in 5 years
2024: €130k▲ +68.7% vs 2023
2025: €132k▲ +1.6% vs 2024highest in 5 years
Net result€80k-€64k▼ 19.7%€52k▼ 18.3%€101k▲ 93.6%€99k▼ 2.5%
2021: €80k
2022: €64k▼ -19.7% vs 2021
2023: €52k▼ -18.3% vs 2022lowest in 5 years
2024: €101k▲ +93.6% vs 2023highest in 5 years
2025: €99k▼ -2.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €348k
Fixed assets
€2k ▼ 37.7%
Current assets
€346k ▼ 31.7%
Equity and liabilities €348k
Equity
€325k ▼ 32.3%
Debt
€23k ▼ 22.3%
Debt's share of the balance-sheet total rises from 5.8% to 6.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€133k▲
2024 · €131k
Cash flow
€100k▼
2024 · €103k
Current ratio
15.24▼
2024 · 17.33
Debt to equity
0.07▲
2024 · 0.06
ROE
30.4%▲
2024 · 21.1%
ROA
28.4%▲
2024 · 19.9%
Interest coverage
39.19▼
2024 · 48.44
Debt ≤ 1 year
€23k▼
2024 · €29k
Income taxes
€41k▼
2024 · €42k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€509k€348k▼
Fixed assets21/28€3k€2k▼
Tangible fixed assets22/27€3k€2k▼
Land and buildings22€3k€2k▼
Plant, machinery and equipment23€526€142▼
Furniture and vehicles24€10€0▼
Current assets29/58€506k€346k▼
Amounts receivable within one year40/41€323k€97k▼
Trade receivables40€25k€26k▲
Other amounts receivable41€298k€71k▼
Cash at bank and in hand54/58€180k€246k▲
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€509k€348k▼
Equity10/15€480k€325k▼
Contributions10/11€6k€6k=
Reserves13€474k€319k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€472k€317k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€30k€23k▼
Amounts payable within one year42/48€29k€23k▼
Trade debts44€1k€404▼
Suppliers440/4€1k€404▼
Taxes, remuneration and social security45€28k€22k▼
Taxes450/3€28k€22k▼
Accrued charges and deferred income492/3€300€258▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼
Other operating charges640/8€838€300▼
Gross operating margin9900€132k€133k▲
Operating profit (loss)9901€130k€132k▲
Financial income75/76B€16k€12k▼
Recurring financial income75€16k€12k▼
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€143k€140k▼
Income taxes67/77€42k€41k▼
Profit (loss) for the period9904€101k€99k▼
Profit (loss) for the period to be appropriated9905€101k€99k▼
Appropriation of the result
Profit (loss) to be appropriated9906€101k€99k▼
Transfer from equity791/2-€254k
Transfer to equity691/2€101k€99k▼
To other reserves6921€101k€99k▼
Profit to be distributed694/7-€254k
Return on contributions (dividend)694-€254k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €111 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €1k | €2k | €2k | €1k | ▼ 23.2% |
| Other operating charges640/8 | €574 | €637 | €873 | €838 | €300 | ▼ 64.2% |
| Gross operating margin9900 | €115k | €94k | €80k | €132k | €133k | ▲ 0.9% |
| Operating profit (loss)9901 | €112k | €92k | €77k | €130k | €132k | ▲ 1.6% |
| Financial income75/76B | €11 | - | €13 | €16k | €12k | ▼ 29.1% |
| Recurring financial income75 | €11 | - | €13 | €16k | €12k | ▼ 29.1% |
| Financial charges65/66B | €1k | €1k | €1k | €3k | €3k | ▲ 25.2% |
| Recurring financial charges65 | €1k | €1k | €1k | €3k | €3k | ▲ 25.2% |
| Profit (loss) for the period before taxes9903 | €111k | €91k | €75k | €143k | €140k | ▼ 2.3% |
| Income taxes67/77 | €31k | €26k | €23k | €42k | €41k | ▼ 2.0% |
| Profit (loss) for the period9904 | €80k | €64k | €52k | €101k | €99k | ▼ 2.5% |
| Profit (loss) for the period to be appropriated9905 | €80k | €64k | €52k | €101k | €99k | ▼ 2.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €347k | €346k | €390k | €509k | €348k | ▼ 31.7% |
| Fixed assets21/28 | €5k | €8k | €10k | €3k | €2k | ▼ 37.7% |
| Tangible fixed assets22/27 | €5k | €8k | €10k | €3k | €2k | ▼ 37.7% |
| Land and buildings22 | €3k | €6k | €9k | €3k | €2k | ▼ 30.1% |
| Plant, machinery and equipment23 | - | - | €911 | €526 | €142 | ▼ 73.0% |
| Furniture and vehicles24 | €2k | €1k | €368 | €10 | €0 | ▼ 100% |
| Current assets29/58 | €342k | €338k | €380k | €506k | €346k | ▼ 31.7% |
| Amounts receivable within one year40/41 | €17k | €20k | €24k | €323k | €97k | ▼ 69.9% |
| Trade receivables40 | €17k | €20k | €21k | €25k | €26k | ▲ 3.4% |
| Other amounts receivable41 | - | - | €3k | €298k | €71k | ▼ 76.0% |
| Cash at bank and in hand54/58 | €324k | €317k | €350k | €180k | €246k | ▲ 36.4% |
| Deferred charges and accrued income490/1 | €1k | €1k | €5k | €3k | €2k | ▼ 19.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €347k | €346k | €390k | €509k | €348k | ▼ 31.7% |
| Equity10/15 | €262k | €326k | €379k | €480k | €325k | ▼ 32.3% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €256k | €320k | €372k | €474k | €319k | ▼ 32.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €254k | €318k | €370k | €472k | €317k | ▼ 32.9% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €85k | €20k | €11k | €30k | €23k | ▼ 22.3% |
| Amounts payable within one year42/48 | €85k | €20k | €11k | €29k | €23k | ▼ 22.3% |
| Trade debts44 | €2k | €4k | €250 | €1k | €404 | ▼ 71.7% |
| Suppliers440/4 | €2k | €4k | €250 | €1k | €404 | ▼ 71.7% |
| Taxes, remuneration and social security45 | €78k | €15k | €11k | €28k | €22k | ▼ 19.8% |
| Taxes450/3 | €76k | €15k | €11k | €28k | €22k | ▼ 19.8% |
| Remuneration and social security454/9 | €2k | - | - | - | - | - |
| Other amounts payable47/48 | €5k | €578 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €300 | €258 | ▼ 14.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €80k | €64k | €52k | €101k | €99k | ▼ 2.5% |
| + Depreciation and write-downs630 | €2k | €1k | €2k | €2k | €1k | ▼ 23.2% |
| Operating cash flow (approximation) | €82k | €65k | €55k | €103k | €100k | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | €-4k | €-5k | €6k | €0 | ▼ 100% |
| Change in cash | - | €-7k | €33k | €-169k | €66k | ▲ 139% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
19-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2019net €101k ▲93.6%
Net result €101k, the highest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €52k ▼18.3%
Net result drops to €52k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Liquidity quadruplescurrent ratio 17.12
Current ratio from 4.04 to 17.12; short-term debt falls from €85k to €20k.
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 58 days late
2021
31-12
Financial
Equity above €200kEq €262k ▲43.9%
3 profitable years in a row build equity to €262k.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150kEq €182k ▲98.7%
2 profitable years in a row build equity to €182k.
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Pittem · 1 establishment unit since 2019
Ground area
2,951 m²
Building footprint
506 m²
Volume, LiDAR
1,790 m³
2 parcels, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
KARASU CONSULT
since 20192.283.812.936
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011D0194/00M000 | Flanders | 2,265 m² | 1 · 387 m² | 8.2 m · 1 fl. |
| 37011D0194/00H000 | Flanders | 686 m² | 1 · 119 m² | 5.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 13,800 EUR awarded · 13,800 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,800 EUR | 1,800 EUR |
| 2023 | 1 | 7,500 EUR | 7,500 EUR |
| 2022 | 1 | 4,500 EUR | 4,500 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,671 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.